Robert Buce Sells 40,100 Shares of TrueCar Inc. (TRUE) Stock
TrueCar Inc. (NASDAQ:TRUE) Director Robert Buce sold 40,100 shares of TrueCar stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $12.61, for a total value of $505,661.00. Following the sale, the director now owns 295,305 shares in the company, valued at approximately $3,723,796.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of TrueCar Inc. (NASDAQ:TRUE) opened at 12.11 on Wednesday. The stock’s market cap is $1.03 billion. TrueCar Inc. has a one year low of $4.42 and a one year high of $13.07. The firm has a 50-day moving average price of $10.68 and a 200-day moving average price of $9.16.
TrueCar (NASDAQ:TRUE) last announced its earnings results on Thursday, November 3rd. The company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. TrueCar had a negative return on equity of 22.29% and a negative net margin of 22.92%. The firm had revenue of $75.01 million for the quarter, compared to analysts’ expectations of $71.17 million. During the same quarter in the previous year, the company earned ($0.03) earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts anticipate that TrueCar Inc. will post ($0.17) earnings per share for the current fiscal year.
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A number of large investors have recently made changes to their positions in TRUE. Caledonia Private Investments Pty Ltd purchased a new stake in shares of TrueCar during the second quarter valued at approximately $14,193,000. Senvest Management LLC boosted its stake in shares of TrueCar by 95.4% in the third quarter. Senvest Management LLC now owns 2,938,634 shares of the company’s stock valued at $27,741,000 after buying an additional 1,435,053 shares during the last quarter. SG Capital Management LLC purchased a new stake in shares of TrueCar during the third quarter valued at approximately $7,621,000. Morgan Stanley boosted its stake in shares of TrueCar by 6.3% in the third quarter. Morgan Stanley now owns 7,029,769 shares of the company’s stock valued at $66,360,000 after buying an additional 419,322 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of TrueCar by 11.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,475,689 shares of the company’s stock valued at $13,931,000 after buying an additional 148,235 shares during the last quarter. 63.26% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on TRUE shares. Stephens upgraded TrueCar from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 4th. Morgan Stanley cut TrueCar from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $5.00 to $6.40 in a research report on Monday, September 12th. Zacks Investment Research cut TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, October 6th. JPMorgan Chase & Co. restated a “hold” rating on shares of TrueCar in a research report on Friday, November 11th. Finally, Loop Capital upgraded TrueCar from a “hold” rating to a “buy” rating and boosted their price target for the company from $11.00 to $12.00 in a research report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $9.37.
TrueCar, Inc offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for enterprises.
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